Valero - 52 Week High

Published on Tuesday, 11 September 2012 12:34 Written by TradersHuddle Wire

New York, September 11th (TradersHuddle.com) - Shares of Valero Energy Corporation (NYSE:VLO) booked a new 52 week high today by trading above $32.55, traders are definitely monitoring Valero's price action to see if this move attracts further buying into the stock.

Valero Energy Corporation (NYSE:VLO) is an independent petroleum refining and marketing company that owns and operates refineries in the United States, Canada, and Aruba. The Company produces conventional gasolines, distillates, jet fuel, asphalt, and a series of petrochemicals and lubricants.

Valero is currently trading 2.06% versus its previous trading session close, and it has calculated support and resistance at $24.66 and $31.48 respectively. Clearly, with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range.

The overall market index S&P 500 is trading higher by 0.42% from its previous trading close, which means that Valero stock is outperforming the overall market.